An article is sold for ₹6500 so as to earn a profit of 4%. A second article whose cost price is ₹3750,is sold at a loss of 4%. What is the overall gain or loss percent in the whole transaction?
Answer & explanation
Correct answer: option 4
SP of the first article = Rs. 6500
CP of the first article = 6500 × \(\frac{100}{104}\) = Rs. 6250
CP of the second article = Rs. 3750
SP of the second article = 3750 × \(\frac{96}{100}\) = Rs. 3600
Total cost price of the both articles = Rs. 6250 + Rs. 3750 = 10,000
Total selling price of the both articles = Rs. 6500 + Rs. 3600 = 10,100
Profit = 10,100 – 10,000 = 100
Profit percentage = \(\frac{100}{1000}\) × 100 = 1%